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f. HECM Calculator Software (04/29/2024)
i. Definition
HECM Calculator Software refers to FHA’s technology software that is used to calculate the Principal Limit and for comparison analysis of different payment options.
ii. Standard
Mortgagees and HECM counselors must use computer printouts generated by FHA’s HECM Calculator Software, or similar software that generates the same information, for calculating the Principal Limit and providing the Borrower with a comparison of various payment plan options.